Published on 14 Nov 2022 on Insider Monkey via Yahoo Finance
12 Best Construction Stocks To Buy Now
In this article, we discuss 12 best construction stocks to buy now. If you want to see more stocks in this selection, check out 5 Best Construction Stocks To Buy Now.
Although consumer inflation decreased slightly in October, prices for services and rents are expected to rise, continuing the path of steep increases that have crushed the stock market in 2022. Apart from food and energy, core CPI is forecasted to have climbed by 0.5%, or 6.5% on an annual basis. This is less than the 0.6% jump in September, which represented an annual pace of 6.6%. The central bank has hinted that the future rate hikes will be smaller, although interest rates will continue to climb to rein in inflation.
A slower-than-expected rate of inflation sparked a rally in bond prices, which trims their yield. The 10-year Treasury yield dropped below 4% to 3.86% on November 10. This also indicates some relief in mortgage rates. The 30-year fixed-rate mortgage rate exceeded the 7% mark, touching 7.08% for the week ended November 10, as per Freddie Mac. The real estate sector on November 10 gained 6.7%, becoming the best-performing S&P 500 segment. Firms like D.R. Horton, Inc. (NYSE:DHI), Lennar Corporation (NYSE:LEN), and Toll Brothers, Inc. (NYSE:TOL) were the most prominent beneficiaries of the real estate rally.